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German Masochists

A handful of guilt-ridden wealthy Germans are asking to pay more tax according to a BBC report. They could just give their money to the state, of course, but they want to impose their self-loathing policies on all successful Germans. The amusing part of the story is that these dilettantes were puzzled that so few people showed up to their protest. Maybe next time they could do some real redistribution and announce that they will be tossing real banknotes in the air:

Stimulus and Boondoggles

The New York Times has a story on some of the more controversial ways in which state and local government are using so-called federal “stimulus” dollars.  If anything, it provides some interesting background on the history of the word boondoggle (not surprisingly, it entered the American lexicon during the New Deal).  The gist of the piece is that one person’s boondoggle is another person’s…turtle crossing…skateboard park…or airport for an island in Alaska with 170 people on it.  One New De

Even as America’s Troops Leave Iraq, the Waste Goes On

The U.S. government has been providing so-called foreign aid for decades, but the waste never stops.  So it is in Iraq.

Reports Stars & Stripes:

Provincial reconstruction teams in Iraq are scrambling to submit a large number of multimillion-dollar aid project proposals by July 15, something critics suggest will result in a rash of big construction projects they were never intended to run.

Going Bankrupt Double-Quick

George W. Bush and the Republicans worked hard to ruin the U.S. government’s finances.  The Obama administration and the Democrats are doing an even better job of wrecking the Treasury.

Reports Bloomberg:

Treasuries headed for their second monthly loss, pushing 10-year yields up the most in almost six years, as President Barack Obama’s record borrowing spree overwhelmed Federal Reserve efforts to cap interest rates.

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